Shiba Inu’s layer-2 network Shibarium has gone quiet. Daily transactions have flatlined after a brief spike to 37,730 on June 17, and the last 24 hours saw just 748 transactions. That’s not exactly a thriving ecosystem.
The spike was short-lived. After June 17, activity dropped right back to the baseline levels we’ve seen since May. No follow-through, no sustained momentum. Just a blip.
Shibarium isn’t dead — it’s consolidating. The network appears to be building behind the scenes rather than growing aggressively. For traders hoping for explosive on-chain activity to drive price action, that’s disappointing. But it’s not necessarily bearish either.
Meanwhile, SHIB itself hit a low of $0.00000405 over the weekend, testing that level twice on Thursday and Friday. The token needs a catalyst — something to bring users back to the chain and reignite interest. Until then, expect more of the same: low volume, low activity, and a community waiting for a reason to care again.
